100 foreign investment companies suspended

Muscat: The Ministry of Commerce and Industry (MoCI) has suspended 100 foreign investment companies and decided not to deal with them in all entities associated with the Invest Easy Portal, as they did not comply with the rules and laws of foreign investment.

The suspension will continue until they adhere to the Foreign Investment Law in force in the Sultanate. Mubarak bin Mohammed al Dhonai, Director General of Commerce explained that the number of foreign investment companies till the end of 2018 stood at 10,392 companies.

He affirmed that the ministry continues to provide facilities to all local and foreign institutions and companies, attract investments to the Sultanate and transfer its services to electronic services that enable the investor to complete his transactions electronically without coming to the ministry. –ONA

 

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